Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council approves pilot LMI grant; raises first-time homebuyer aid to $15,000
Summary
The Nevada City Council approved a pilot economic development grant to the Nevada Economic Development Council to distribute low‑to‑moderate‑income (LMI) funds for three pilot programs and amended the homebuyer assistance amount from $5,000 to $15,000 amid questions about conflict‑of‑interest safeguards and program monitoring.
The Nevada City Council on a motion by Councilmember Jason Samson approved a pilot economic development grant to the Nevada Economic Development Council (NEC) to disperse the city’s accumulated low‑to‑moderate‑income (LMI) funds, and amended the program to increase first‑time homebuyer assistance to $15,000 per household.
Brenda, a city staff member presenting the item, told council the funds derive from a statutorily required 48% set‑aside of any TIF proceeds and are restricted to projects that benefit low‑to‑moderate‑income residents. “This agreement is to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
